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Stable Yield With Closed-End Funds: Term CEF Ladder
Published Mon, 09 Apr 2018 16:25:37 -0400 on Seeking Alpha
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Background and Investment Objective
First, some personal background, as this is my inaugural article on Seeking Alpha. I have spent 15+ years on institutional fixed income trading desks. The first five were spent learning the corporate bond business while working primarily in operations / systems. In 2007 I moved to trading and analytics, and subsequently spent the next decade trading structured products, ending recently with an 18-month stint selling high-yield corporates. I will probably return to the business at some point, but right now I am an individual investor without access to Bloomberg. I am a trend-follower, not a soothsayer. I do not seek to predict economic or market cycles, rather, I do my best to be correctly positioned during each stage.
My history with CEFs goes back about ten years. Barron’s occasionally puts out decent recommendations, and I have traded in and out of several muni-CEFs, usually with multi-year holding periods, but it is only recently that I started studying the product closely. My current goal is to uncover funds that take advantage of the CEF structure while providing sustainable yield on NAV. By “yield on NAV” I mean total return... Read more
| Stock name | Last trade | P/E | Earnings/Share | Dividend/Share | Dividend yield | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HIGH YIELD INCOME FUND | 15.21 | 0.0 | 0.00 | 0.00 | 7.00 |